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Article #21453SALES TAX ON USED CARS
From: john.cosimano
Date: Tue, 05 Apr 1994 14:47
Date: Tue, 05 Apr 1994 14:47
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1498 bytes
I'm sure this isn't the appropriate newsgroup, so please re-direct me if necessary. Please, no flames... Anyhow, I have inherited a car and will be taking possission of it rsn. It belonged to my grandfather who recently passed away. The car went to my mother and her accountant suggested she sell it to me for a dollar - to avoid inheritance taxes, and other IRS hassles, I presume. I also figured that I'd save sales tax when I register the thing at MVA. So a friend tells me that MVA will not allow one to do this. It seems people understate the price paid for a used car to save on sales tax. Imagine that... 8-). The MVA, my friend says, will collect sales tax on the blue book value of the vehicle, if it is sold for less than blue book. Does anyone who lives in Maryland know this to be true? Are there any legal loopholes around this? Please respond directly to jcosimano@his.com, as I don't read this group regularly. Thanks, John
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X-Google-Language: ENGLISH,ASCII-7-bit X-Google-Thread: 1011e5,a67f246314436be,start X-Google-Attributes: gid1011e5,public X-Google-ArrivalTime: 1994-04-08 05:33:39 PST Newsgroups: dc.driving Path: arc1-ca.pugleaf.net!bga.com!news.sprintlink.net!uunet!news.his.com!clone!john.cosimano From: john.cosimano@his.com Subject: SALES TAX ON USED CARS Message-ID: <9404051447.A9816wk@his.com> Organization: Heller Information Services, Inc., Rockville MD X-Mailer: TBBS/PIMP v2.52 Distribution: world Date: Tue, 05 Apr 94 14:47:58 Lines: 23